1 Research Interests

Building on my economics training, my research contributions are mainly in empirical corporate finance and governance, and banking. My portfolio develops four main areas of interest that explore how investment and financial decisions are affected by: 1) shareholders' and managerial incentives; 2) financial contracting; 3) how the two types of decisions interact in the presence of financial constraints and human capital constraints; and 4) how public and private firms differ in their corporate policies and risk and retun. 

Working Papers

Working Papers

Gao, T., Marchica, M.-T., and Petry, S. (2024) Promoting Digitalization through Information Dissemination

* World Finance Conference 2024 Best Paper Award in Corporate Finance

* Semifinalist for the Best Paper Award at FMA International 2023 (US)

* Included in the SSRN Top Ten list

 Lagaras, S., Marchica, M.-T., Simintzi, E., and Toutsoura, M. (2023) Women in the Financial Sector

* 19 citations (Publish or Perish based on Google Scholar)

 Marchica, M.-T., and Mura, R. (forever young) Returns and Risks to Private Equity (permanent working paper)

Awards and Grants

Research

2024           World Finance Conference 2024 Best Paper Award in Corporate Finance

2023           Semifinalist for the Best Paper Award at FMA International, (US)

2018           EFM2017 Readers' Choice Best Paper Award in the European Financial Management

2013           Semifinalist for the Best Paper Award at FMA International, (US)

2012           BlackRock/Brennan Best Paper--Runner Up Award for outstanding paper in the Review of Financial Studies

2010       Semifinalist for the Best Paper Award at FMA International, (US)

1998-93 Awards for academic excellence in each academic year from 1993/94 to 1997/98, University of Trento (Italy)

Teaching

2023-2014  Teaching Excellence for BMAN30111 module in each single year

2015           Nomination for Most Inspiring and Best Humanities Lecturer in the University of Manchester Teaching Award 2015

2014           Nomination for the University of Manchester Teaching Award 2014

2013           Undergraduate Academic of the Year Award

This is a student nominated award for the member of staff that they feel has most enhanced their undergraduate experience at MBS. The motivation they give is the following: "You were singled out as having consistently delivered a high standard of teaching; making finance courses pleasurable; for your enthusiasm in providing feedback to students and for being ‘not just a fantastic academic but a great educator’."

2007                Nomination for the University of Manchester Teaching Award

Grants

2022              AMBS Research Support Fund, approx. £5,000. Principal Investigator

                     AMBS Research Recovery Fund, approx. £8,000. Principal Investigator

2021              AMBS Research Support Fund, approx. £5,000. Principal Investigator

2018            AMBS Strategic Fund, approx. £4,000. Principal Investigator

2017            AMBS 4* Support Fund, approx. £5,000. Co-Investigator

2016            AMBS Strategic Fund, approx. £23,000. Co-Investigator

                     Lord Alliance research investment fund, approx £120,000. Principal Investigator

2015            AMBS Research Support Fund, approx. £15,000. Principal Investigator

                      AMBS Strategic Fund, approx. £23,000. Co-Investigator

2008             FP7-MC-ITN-2008-RISK, “Risk Management and Risk Reporting”, approx 3.5 million euro. Sub-programme coordinator of the Corporate Finance area

2005             RES Conference Grant

2005-2002  ESRC Research Studentship “+3”, ESRC

2004-2002 Scholarship for advanced research, University of Verona (Italy)

2001         Scholarship for postgraduate studies in Economics, University of Trento (Italy)

2000            Meritorious graduate students scholarship, University of Trento (Italy)

Conference presentations

2025         AEA (US)*, MFA (US)*, RCFS (US)*

2024         BAM Conference (UK)*, CAIR Thematic Talk (AMBS), CARBS CG Conference (UK)*, CUNEF Workshop (Madrid), EEA (Netherlands)*,                                 FMA Europe (Italy)*, RES (N-Ireland)*, Tel Aviv-HKU conference (Hong Kong), World Finance Conference (Cyprus)*

2023         AFA (US), FIRS (Canada), FMA International (US)*

2022         MFA (US)*

2021         EFA (Italy)

2020         Summer Finance and Accounting Conference (Israel) postponed

2018         FOM Conference (US), EMIL Workshop (Italy)

2017         AEA (US), 2^nd CEPR Symposium (UK)*, EFMA as panelist (Greece)

2016         AFA (US), AFFI (France)*, Edinburgh Corporate Finance Conference (UK)*, FIRS (Portugal), IFABS (Spain), UBC Finance Conference (Canada), WFA (US)*, RBFC 2016 (Netherlands)*

2015         AFA (US)*, EFA (Austria)*, FIRS (Iceland), FMA Europe (Italy), Edinburgh Corporate Finance Conference (UK)*, C.R.E.D.I.T. 2015 (Italy), 7^th EBC conference (Netherlands)

2014         15th Workshop on Corporate Governance and Investment (Norway)*, RBFC 2014 (Netherlands)*, EFA (Switzerland), Summer Finance Conference 2014 (Israel), LBS Summer Conference (UK)*, Jerusalem Finance Conference (Israel)*, Edinburgh Corporate Finance Conference (UK), FMA Europe (Netherlands)*

2013         World Finance & Banking Symposium (China)*, FMA International (US), EEA (Sweden), FIRS (Croatia), EFA (US)*, Marie Curie ITN                                    Conference (Germany)*

2012         Cambridge Judge Business School Conference on National Governance Bundles (UK)*, Corporate Governance and Investment                                    Workshop (UK), FMA International (US), ECB (Germany)*

2011         WFA (US)

2010         FMA International Top Quality session (US), Second Paris Spring Corporate Finance (France)

2009         Frontiers in Finance (Canada)*

2008         FMA International (US), FIRS (US)*, FMA Europe (Czech Republic)

2007         FMA International (US)*, EFA (Slovenia)*, FMA Europe (Spain), EFM Symposium (Italy), EFA (US), MFA (US)

2006         FMA International Top Quality session (US), PFN (Portugal), EFMA (Spain)

2005         International Conference on Corporate Governance (UK),           EFMA (Italy), FMA Europe (Italy), FMA –Doctoral Programme (Italy),                             EFMA Symposium (UK)

2004         CFS (Germany), International Conference on Corporate Governance (UK)

2003         EFMA-Doctoral Programme (Finland), Industrial Network workshop, EUI and University of Siena (Italy)

                            * presentation by co-author

Conference discussions

2025         AFA (US) 

2024         NFA (Canada)

2023         ESCP Corporate Governance (France), Edinburgh Corporate Finance Conference, EFA (Netherlands), FMA International (Chicago)

2022         EFA (Spain)

2019         NFA (Vancouver, Canada), Annual Corporate Finance Conference (Bristol, UK)

2018         SFS Cavalcade (Yale, US)

2017         EFA (Germany), ESCP Corporate Governance (France)

2016         SFS Cavalcade (Canada)

2015         Edinburgh Corporate Finance Conference (UK)

2013         FMA International (US), Marie Curie ITN Conference (Germany)

2008         FMA International (US), FIRS (US), FMA Europe (Czech Republic)

2007         EFM Symposium (Italy), EFA (US)

2006         PFN (Portugal)

2005         EFMA (Italy), FMA Europe (Italy), EFMA Symposium (UK)

Conference Programs

2025          Co-organizer, Edinburgh Corporate Finance Conference (UK) scheduled

2024          Session Chair, EFA (Slovakia)

                  Editor mentorship at the Junior Scholar consortium, 10^th ICGS conference (US)

2023          Session Chair, Tel Aviv-HKU conference (Israel)

2022          Track Chair, FMA International

                  Session Chair, FMA International

                Program Committee, Edinburgh Corporate Finance Conference (UK)

                  Editor mentorship at the Junior Scholar consortium, 8^th ICGS conference (US)

2021          Program Committee, NFA (Canada)

                  Editor mentorship at the Junior Scholar consortium, 7^th ICGS conference (Netherlands)

2020          Program Committee, NFA (Canada)

2019          Program Committee, DWF Conference (Italy), NFA (Canada)

2018          Co-organizer, Corporate Finance: Beyond Public Companies (UK), Session Chair, FIRS

2017          Program Committee, Edinburgh Corporate Finance Conference (UK); FMA Europe; FMA International

2016          Program Committee, EFA Europe, FMA Europe, FMA International

2015          Program Committee, EFA Europe, FMA Europe; Session Chair, EFA Europe

2013         Session Chair, FMA International

2010         Program Committee, FMA International

2009         Program Committee, FMA International; Session Chair, FMA International

2008         Co-organizer, Corporate Finance Workshop (UK); Session Chair, FMA International

2007         Program Committee, FMA Europe

2005         Session Chair, EFMA

Invited seminar speaker

2025         CfP Multidisciplinary Workshop, keynote speaker (University of Geneve) scheduled

                Competition and Market Authority (CMA) UK scheduled, Hungarian National Bank (Hungary) scheduled, Warwick Business School (UK)                      scheduled

2024         HEC Montreal (Canada), VU University (Netherlands), Bayes Business School (UK), Birmingham (UK), Central Bank of Portugal (Portugal),                     Hong Kong Polytechnic University (Hong Kong), Lingnan College Sun Yat-sen University (China)

2023         Nottingham University (UK), Bristol University (UK), Coimbra University (Portugal), Liverpool Workshop (UK), Universidad Torcuato Di                       Tella (Argentina), Universidad de San Andres (Argentina), and University of Chile (Chile)

2022         Durham University (UK), CUNEF (Spain), University of Zurich (Switzerand), Groningen University (Netherlands), University of Edinburgh                     (UK), University of Liverpool (UK)

2021         ESCP Europe (Online Corporate Finance Seminars), Haskayne School of Business (University of Calgary), Coller School of Management                           (University of Tel Aviv), CERF/Cambridge Finance seminar (UK)

2020         Cyprus University of Technology postponed, Tilburg University postponed, Groningen University postponed

2018         Strathclyde University (UK)

2017         University of Piraeus (Greece), St.Andrews University (UK)

2016         Arison School of Business IDC Herzliya (Israel)

2015         Free University of Bozen (Italy)

2014         University of Trento (Italy); University of Neuchatel (Switzerland)

2013         University of Verona (Italy); Exeter Business School (UK); Arison School of Business IDC Herzliya (Israel)

2012         Cardiff Business School (UK)

2010         University of Verona (Italy); VU University Amsterdam, (Netherland); Durham Business School (UK)

2008         ECB (Germany); University of Verona (Italy)

2007         CIFREM-Trento (Italy)

Maria-Teresa Marchica joined the Manchester Business School as a lecturer (assistant professor) in finance in September 2005. She has a PhD in Economics from the University of York where she also worked as a teaching fellow for two years. She took her MSc in Economics and Finance at the University of York and her BA in Economics at the University of Trento, Italy. She is currently a member of the American Finance Association, European Economic Association, European Finance Association, Financial Intermediation Research Society, Financial Management Association, Society for Financial Studies, and Western Finance Association.